BioNTech and Pfizer release details of COVID-19 vaccine development deal

9 April 2020

German immunotherapeutics specialist BioNTech (Nasdaq: BNTX) and US pharma giant Pfizer (NYSE: PFE) today disclosed details of their collaboration to advance candidates from BioNTech’s mRNA vaccine program, previously announced on March 17, 2020.

BioNTech, whose shares rose over 8% to $48.68 in early trading, will receive significant financial support from Pfizer as part of the agreement, including an upfront payment from Pfizer of $185 million and is eligible to receive future milestone payments.

The companies estimate that there is potential to supply millions of vaccine doses by the end of 2020 subject to technical success of the development program and approval of regulatory authorities and then rapidly scale up to capacity to produce hundreds of millions of doses in 2021.

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